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Article Chesapeake Dividend Cut Backfires for Bonds by Clouding Outlook
Tuesday, July 21st

Our client Gimme Credit's Phil Adams quoted:There’s still a worry that they need to hunker down, and they’re doing this because the future is not all that good,” Phil Adams, a Chicago-based analyst at debt researcher Gimme Credit, said in a telephone interview. “The message being sent out is that the next six months are going to be equally as difficult as the last six months. Bondholders are saying ‘Whoa, if the company has to cancel the dividend, I guess maybe things are bad.’”